Final Results

Greatland Gold PLC
30 October 2007


                               Greatland Gold plc


             Final audited results for the year ended 30 June 2007



Dated: 30 October 2007

Greatland Gold plc (the 'Company') the mineral exploration and development
company focused on gold projects in Tasmania and Western Australia announced
today its final audited results for the period ended 30 June 2007.

Chairman's Statement

The financial period to 30 June 2007 was the second of Greatland Gold plc's
corporate life, and saw both the successful admission of the Company to the
Alternative Investment Market (AIM) of the London Stock Exchange, and
commencement of exploration activities at its Australian properties.

In the latter part of the Company's financial year, Greatland Gold plc placed
40,000,000 ordinary shares in several tranches, raising £800,000 before expenses
and putting the Company in a position to continue its policy of building value
in its projects through continuing active exploration.  At the end of June 2007
the company's total shares in issue were 146,550,000 ordinary shares, with
6,000,000 employee options outstanding.

Post Balance Sheet Events

On 19 July 2007 Greatland Gold plc placed a further 30,000,000 ordinary shares
raising £675,000 before expenses, and on 30 July 2007, taking advantage of good
investor demand at a time of growing uncertainty, Greatland Gold plc placed a
further 20,000,000 ordinary shares raising an additional £450,000 before
expenses.  Total shares in issue rose to 196,550,000 ordinary shares as a result
of these placements.

Exploration

Exploration activities during the period provided positive results from both the
Tasmanian properties of Firetower and Warrentinna.  At listing the Company had
stated its immediate purpose as being the further development of its existing
properties, and it kept to this remit.

Outlook

The Directors believe the Company is well positioned within the global mining
sector.  This sector has seen strong growth over recent years underpinned by
unprecedented demand for raw materials.  Looking forward, 2007 and 2008 are
likely to be a period of active development for the Company.  Recent rises in
the gold price are focussing interest on the sector, and this will give rise to
opportunities.  Some of these opportunities may be brought to us, and others we
may seek out.  Already, along with ongoing activities at its existing projects,
the Directors are constantly reviewing new opportunities that are being
presented, and it is reasonable to expect that the Company may undertake further
acquisitions of quality exploration and mining projects.

Conclusions

I would like to record my appreciation and thanks to our new investors who
supported the Company through its admission to AIM and subsequent placings as
well as thanks to our professional advisors for their work during the period.

Andrew R. McM. Bell

Chairman


Managing Director's Operating Review

The main activities of Greatland Gold plc are the exploration for, and
development of, large gold resources.  The Company was formed and registered as
Greatland Gold Limited in 2005 and admitted to AIM as Greatland Gold plc during
July 2006.

The Company owns three mineral projects all located in Australia, two in
Tasmania and one in Western Australia, all gold focussed.  The total area
covered by the three projects is approximately 450sq kilometres.

The gold price has been on an upward trend since 2001.  However, these gains
have accelerated since the latter parts of 2005 through to 2007.  Factors
affecting the price of the metal include investment demand, central bank sales,
jewellery demand, industrial demand, gold based foreign exchange reserves, mine
production and scrap reclamation.  Factors most prevalent in determining price
during the year were increased investment demand and central bank divestment.
These trends are likely to continue into the 2007-2008 period.

In Tasmania the company owns the Firetower and Warrentinna gold projects, and in
Western Australia the Lackman Rock project.

Since admission, exploration at the Firetower project has yielded positive
results.  These include high gold grades from drilling within the Firetower
resource area, and additional gold mineralisation identified at surface.  At the
Firetower West prospect, first pass drilling of an extensive area reported gold
and base metal mineralisation confirming a large mineralised system.

At the Warrentinna project, early exploration work has shown the project to host
gold mineralisation over a number of large areas.  These areas are characterised
by numerous shallow workings that constitute several historic goldfields.
Activities to date have been restricted to surface work. Gold mineralisation of
an extremely high tenor has been reported.

One of the factors that will help the Company achieve its goals of developing
large gold resources is the calibre of its board.  The board has proven
technical talent, corporate ability, promotional experience and financing
capacity.

The admission to AIM during July 2006, and subsequent fundraising, reflects well
on the progress made during the year. Advancing the Company's assets will
continue with vigour and we expect commensurate results.

We are delighted with results to date, and to have had a second successful year.
We look forward to exciting progress in the year ahead.

Callum N Baxter

Managing Director

The Company's audited results for the year ended 30 June 2006 are as follows.

Group income statement for the year ended 30 June 2007

                                                                Year ended             Period 16
                                                               30 June 2007     November 2005 to
                                                                                    30 June 2006
                                                                          £                    £

Turnover                                                              6,276                    -
Exploration costs                                                 (327,332)                    -
Administrative expenses                                           (283,128)             (27,743)
Currency gains                                                       15,552                    -
Operating loss                                                    (588,632)             (27,743)
Interest receivable                                                  27,306                  131
Loss on ordinary activities before taxation                       (561,326)             (27,612)
Tax on loss on ordinary activities                                        -                    -
Loss for the financial period                                     (561,326)             (27,612)


Loss per share - basic                                         (0.51) pence         (0.23) pence


All of the operations are considered to be continuing.

Group statement of recognised income and expense for the year ended 30 June 2007

                                                                       Year ended              Period 16
                                                                      30 June 2007      November 2005 to
                                                                                            30 June 2006
                                                                                 £                     £


Exchange translation differences on consolidation of                             -                13,444
group entities
Deficit on revaluation of available for sale                              (16,026)                     -
financial assets
Income and expense recognised directly in equity                          (16,026)                13,444
Loss for the financial period                                            (561,326)              (27,612)
Total recognised income and expense for the financial                    (577,352)                14,168
period



Group balance sheet as at 30 June 2007

                                                     30 June 2007                30 June 2006
                                                          £             £              £            £
ASSETS
Non-current assets

Tangible assets                                       7,339                            -
Intangible assets                                   463,613                      291,379
                                                                  470,952                     291,379
Current assets

Cash and cash equivalents                         1,241,211                    1,318,648

Trade and other receivables                          60,982                       33,897

Available for sale financial assets                 106,203                            -
Total current assets                                            1,408,396                   1,352,545
TOTAL ASSETS                                                    1,879,348                   1,643,924
LIABILITIES
Current liabilities

Trade and other payables                           (88,104)                    (224,458)
TOTAL LIABILITIES                                                (88,104)                   (224,458)
NET ASSETS                                                      1,791,244                   1,419,466

EQUITY

Called-up share capital                             146,550                      100,550

Share premium reserve                             1,936,771                    1,108,084

Share option reserve                                 74,443                            -

Retained losses                                   (588,938)                     (27,612)
Other reserves                                      222,418                      238,444

TOTAL EQUITY                                                    1,791,244                   1,419,466


Company balance sheet as at 30 June 2007


                                                     30 June 2007                30 June 2006
                                                          £             £              £            £
ASSETS
Non-current assets

Investment in subsidiary                                          250,000                     250,000
Current assets

Cash and cash equivalents                         1,196,273                    1,317,243

Trade and other receivables                         637,642                       43,138
Total Current Assets                                            1,833,915                   1,360,381
TOTAL ASSETS                                                    2,083,915                   1,610,381
LIABILITIES
Current Liabilities

Trade and other payables                           (60,060)                    (183,692)
TOTAL LIABILITIES                                                (60,060)                   (183,692)
NET ASSETS                                                      2,023,855                   1,426,689

EQUITY

Called-up share capital                             146,550                      100,550

Share premium reserve                             1,936,771                    1,108,084

Share option reserve                                 74,443                            -

Merger reserve                                      225,000                      225,000
Retained losses                                   (358,909)                      (6,945)


TOTAL EQUITY                                                    2,023,855                   1,426,689



Group cash flow statement for the year ended 30 June 2007

                                                                       Year ended     Period ended
                                                                     30 June 2007     30 June 2006
                                                                                £                £

Cash flows from operating activities

Operating loss                                                          (588,632)         (27,743)

Increase in debtors                                                      (18,239)         (23,100)

(Decrease)/Increase in creditors                                        (136,354)          174,142

Depreciation                                                                2,958                -

Share based payments                                                       74,443                -

Currency adjustments                                                     (16,788)                -
Cash (outflow)/generated from operations                                (682,612)          123,299
Cash flows from investing activities

Interest received                                                          27,306              131

Purchase of intangible assets                                           (165,230)            (590)

Purchase of fixed assets                                                  (9,360)                -

Purchase of current asset investments                                   (122,228)                -
Net cash flows used in investing activities                             (269,512)            (459)
Acquisitions and disposals

Cash acquired with subsidiary acquisition                                       -           12,174
Net cash inflow from acquisitions and disposals                                 -           12,174
Cash inflows from financing activities

Proceeds from issue of shares                                             920,000        1,411,000

Transaction costs of issue of shares                                     (45,313)        (227,366)
Net cash flows from financing activities                                  874,687        1,183,634
Net (decrease)/increase in cash and cash equivalents                     (77,437)        1,318,648
Cash and cash equivalents at the beginning of period                    1,318,648                -
Cash and cash equivalents at end of period                              1,241,211        1,318,648


Notes to the Financial Statements for the period ended 30 June 2007


1.  The Directors are not recommending the payment of an ordinary share dividend.


2.  Loss per share on the net basis is calculated on a loss on ordinary 
    activities after taxation of NIL and on 110,456,849 (2006: 12,000,886)
    ordinary shares being the weighted average number of shares in issue and 
    ranking for dividend during the period.  No diluted loss per share is 
    presented as the effect of exercise of outstanding options is to decrease 
    the loss per share.

3.  The financial information set out in this final results announcement does 
    not constitute statutory accounts as defined in section 240 of the Companies 
    Act 1985.  Results for the year ended 30 June 2007 are abridged from the 
    2007 Annual Report and Accounts, which received an unqualified auditor's 
    report and will be filed with the Registrar of Companies following the
    Annual General Meeting.

4.  The Annual Report will be posted to shareholders week commencing on 5 
    November 2007.  Further copies will be available from the Company's 
    registered office: 3rd Floor, 55 Gower Street, London WC1E 6HQ for one 
    month from Friday 9 November or from the company's website 

    www.greatlandgold.com.


5.  The Annual General Meeting of the Company will be held at the Company's 
    offices at 115 Eastbourne Mews, Paddington, London W2 6LQ, on Thursday 6 
    December 2007 at 10.00 a.m.


Enquiries:


Callum Baxter      [phone]       Greatland Gold plc                   Managing Director

John Simpson       [phone]       ARM Corporate Finance Ltd            Nominated Adviser


Updates on the Company's activities are regularly posted on its website

www.greatlandgold.com


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